Opendoor Technologies Inc., a leading e-commerce platform for residential real estate transactions, announced the successful completion of a significant debt transaction on May 19, 2025. The company closed its negotiated exchange and subscription agreements involving its 0.25% Convertible Senior Notes due 2026 and issued $325.0 million in new 7.000% Convertible Senior Notes due 2030. This transaction involved exchanging approximately $245.8 million of the 2026 Notes for the same amount in 2030 Notes and issuing $79.2 million in 2030 Notes for cash. The move adds $75.3 million in cash to Opendoor's balance sheet, reflecting strong investor support. The company plans to use the proceeds for general corporate purposes. J. Wood Capital Advisors LLC served as the advisor for these transactions.
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